Measured Success: By The Numbers

Sept. 12, 2008
Customer satisfaction is a popular metric by which to gauge the success of innovation efforts. But it's not the only one.

Many things about innovation frustrate executives, not the least of which is how best to gauge the success of their innovation efforts. As Boston Consulting Group's annual global survey of innovation illustrates, companies are relying on a variety of metrics to determine the success of innovation. Customer satisfaction was identified by the most firms as a key metric, garnering nods from half the survey respondents. What follows are the top five most popular metrics and the percentage of firms using them.

54 percentage of companies that use customer satisfaction to measure the success of their
innovation

47 percentage of companies that use percentage of sales from new offerings to measure their innovation success

44 percentage that use overall revenue growth as a measure of innovation success

32 percentage that identify increased margins as a measure of the success of their innovation

25 percentage that say number of new products or services is a measure of innovation success

See Also

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!